Analysts predict that Meritage Homes Corp (NYSE:MTH) will post earnings of $0.74 per share for the current quarter, according to Zacks. Eleven analysts have made estimates for Meritage Homes’ earnings. The highest EPS estimate is $0.86 and the lowest is $0.66. Meritage Homes reported earnings per share of $0.56 during the same quarter last year, which suggests a positive year over year growth rate of 32.1%. The company is expected to issue its next quarterly earnings report on Thursday, April 26th.
On average, analysts expect that Meritage Homes will report full-year earnings of $5.06 per share for the current year, with EPS estimates ranging from $4.93 to $5.20. For the next financial year, analysts expect that the company will post earnings of $5.73 per share, with EPS estimates ranging from $5.17 to $6.24. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Meritage Homes.
Meritage Homes (NYSE:MTH) last announced its quarterly earnings data on Thursday, February 1st. The construction company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.25 by $0.09. The firm had revenue of $946.40 million for the quarter, compared to analyst estimates of $932.94 million. Meritage Homes had a return on equity of 10.76% and a net margin of 4.44%. The company’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.22 EPS.
Several equities analysts have recently commented on MTH shares. Citigroup upgraded Meritage Homes from a “neutral” rating to a “buy” rating and set a $51.00 price objective on the stock in a research report on Monday, January 8th. Zacks Investment Research lowered Meritage Homes from a “hold” rating to a “sell” rating in a research report on Tuesday, January 2nd. JMP Securities increased their price objective on Meritage Homes from $55.00 to $57.00 and gave the company a “market outperform” rating in a research report on Friday, February 2nd. Credit Suisse Group upgraded Meritage Homes from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $60.00 in a research report on Monday, January 22nd. Finally, Barclays upgraded Meritage Homes from an “underweight” rating to an “equal weight” rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.90.
Meritage Homes (NYSE MTH) opened at $45.10 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.81. The company has a market capitalization of $1,792.70, a PE ratio of 13.15, a PEG ratio of 0.65 and a beta of 1.34. Meritage Homes has a 1 year low of $35.75 and a 1 year high of $55.50.
In related news, Director Peter L. Ax sold 12,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $44.02, for a total transaction of $550,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Hilla Sferruzza sold 589 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $45.20, for a total value of $26,622.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,959 shares of company stock worth $932,597. 5.60% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB bought a new stake in shares of Meritage Homes in the 4th quarter worth approximately $232,000. Meitav Dash Investments Ltd. bought a new stake in shares of Meritage Homes in the 4th quarter worth approximately $974,000. MetLife Investment Advisors LLC bought a new stake in shares of Meritage Homes in the 4th quarter worth approximately $923,000. Metropolitan Life Insurance Co. NY bought a new stake in shares of Meritage Homes in the 4th quarter worth approximately $635,000. Finally, Millennium Management LLC grew its position in shares of Meritage Homes by 8.7% in the 4th quarter. Millennium Management LLC now owns 1,522,867 shares of the construction company’s stock worth $77,971,000 after buying an additional 121,672 shares during the last quarter. Institutional investors and hedge funds own 95.24% of the company’s stock.
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Meritage Homes Company Profile
Meritage Homes Corporation operates as a holding company. The Company is a designer and builder of single-family homes. The Company operates through two segments: homebuilding and financial services. The homebuilding segment is engaged in the business of acquiring and developing land, constructing homes, marketing and selling those homes, and providing warranty and customer services.
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